While correlated data methods (like random effect models and generalized estimating equations) are commonly applied in practice, students may struggle with understanding the reasons that standard regression techniques fail if applied to correlated outcomes. To this end, this article presents an in-class activity using results from Monte Carlo…

It has become increasingly important for future business professionals to understand statistical computing methods as data science has gained widespread use in contemporary organizational decision processes in recent years. Used by scores of academics and practitioners in a variety of fields, Monte Carlo simulation is one of the most broadly…